Hooker Furnishings (NASDAQ:HOFT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Hooker Furnishings Stock Performance

Shares of Hooker Furnishings stock opened at $13.27 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.46 and a current ratio of 3.16. The business’s 50 day moving average price is $16.53 and its 200 day moving average price is $15.94. The company has a market cap of $142.12 million, a price-to-earnings ratio of -14.58 and a beta of 1.26. Hooker Furnishings has a one year low of $13.00 and a one year high of $25.80.

Hooker Furnishings Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.92 annualized dividend and a yield of 6.93%. Hooker Furnishings’s payout ratio is -101.10%.

Insider Activity

In related news, Director Paulette Garafalo sold 2,489 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $17.10, for a total transaction of $42,561.90. Following the completion of the sale, the director now directly owns 20,783 shares of the company’s stock, valued at approximately $355,389.30. This trade represents a 10.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Hooker Furnishings

A number of institutional investors and hedge funds have recently made changes to their positions in HOFT. Copeland Capital Management LLC acquired a new position in Hooker Furnishings during the third quarter worth $37,000. Acadian Asset Management LLC lifted its stake in Hooker Furnishings by 15.7% during the 2nd quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock worth $74,000 after acquiring an additional 703 shares in the last quarter. Inspire Advisors LLC purchased a new position in Hooker Furnishings during the 2nd quarter valued at about $190,000. Baron Wealth Management LLC purchased a new stake in Hooker Furnishings during the third quarter worth about $215,000. Finally, Barclays PLC boosted its stake in shares of Hooker Furnishings by 270.4% in the third quarter. Barclays PLC now owns 15,463 shares of the company’s stock valued at $279,000 after purchasing an additional 11,288 shares during the period. 73.63% of the stock is owned by hedge funds and other institutional investors.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.